The Bank of England has changed its interest rate policy for the first time since 2009 cutting the base rate to 0.25%.<\/p>\n
The Monetary Policy Committee had previously voted to keep the interest rate at 0.5% for a total of 88 months.<\/p>\n
The previous rate of 0.5% was the lowest seen in the UK for more than 300 years.<\/p>\n
As late as August 2008 the rate stood at 5% before a number of incremental cuts were made by the Bank of England.<\/p>\n
The base rate took its final step down to 0.5% at a desperate time for the UK economy ans as policymakers attempted to stem the rush towards financial depression.<\/p>\n
Before the decision to quit the EU the Bank of England had been priming itself to eventually start raising rates.<\/p>\n
The Bank has also extended its Quantitative Easing programme pumping another \u00a360bn.<\/p>\n","protected":false},"excerpt":{"rendered":"The Bank of England has changed its interest rate policy for the first time since 2009 cutting the base rate to 0.25%. The Monetary Policy Committee had previously voted to keep the interest rate at 0.5% for a total of 88 months. The previous rate of 0.5% was the lowest seen in the UK for… View Article<\/a>","protected":false},"author":1,"featured_media":199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=214"}],"version-history":[{"count":0,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/orchardmortgages.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}